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EU now better prepared to tackle tax evasion

Two years after the Panama Papers scandal revealed the scope of tax haven activities, the EU has adopted new legislation and is now better prepared to tackle tax evasion and fraud. EURACTIV’s partner Euroefe reports.

On April 3, 2016, an important number of documents from the Panama-based law firm Mossack Fonseca were leaked, revealing the existence of 214,000 offshore companies operating in more than 200 countries, as well as the involvement of over 500 banks and 140 politicians and other public figures.

There was great outrage among citizens following this revelation, and the murders of two European journalists investigating corruption cases – Daphne Caruana Galizia and Jan Kuciak – once again highlighted the scale and seriousness of tax evasion.